increasing of cost of raw material that used for production and the higher of direct labour cost. The net profit rate from financial statement was decreased from 6.1 percent in 2017 to 5.2 percent in 2018 due

) Performance Analysis Unit : MB For the year ended Change 2018 2017 MB % Net sales 1,057.38 1,054.67 2.71 0.26 Other income 47.74 46.50 1.24 2.67 Total revenues 1,105.12 1,101.17 3.95 0.36 Cost of goods sold

(12.7) (31.8) Other Income 17.0 15.6 4.5 1.4 9.0 12.5 277.8 Cost of Sales, Service and Construction contracts 985.6 872.0 819.7 113.6 13.0 165.9 20.2 Selling expenses 50.1 58.0 40.4 (7.9) (13.6) 9.7 24.0

) (48.76%) 1 - Construction 556.10 343.54 212.56 61.87% 2 - Testing and Inspection 19.20 15.83 3.37 21.29% 3 Cost of sales and services (687.57) (494.89) 192.68 38.93% Gross Profit 80.26 56.52 23.74 42.00

service cost as an expense in statement of comprehensive income due to the recognition of additional legal severance pay rates for employees who have worked for an uninterrupted period of twenty years or

partially offset by significant cost increase of secondary raw material. Earnings Analysis 2Q 2018 core EBITDA increased by 63% to $388 million year-on-year.On a portfolio basis, IVL achieved a Core EBITDA

180.0 million, increased by THB 2.7 million or 1.5% from the prior period and similar to the same period of prior year. However, in this quarter the Group has increased in cost of employee benefits which

Total revenues 245.62 265.32 -7.43 274.61 -10.56 795.14 795.05 0.01 Cost of goods sold 134.41 140.05 -4.03 154.23 -12.85 440.55 419.66 4.98 Selling expenses and administrative expenses 109.32 103.59 5.53

Q3’18, the Company incurred 172 million baht of finance costs, increased by 46% YoY and 49% QoQ, mainly from an integration of financing cost of long-term loan and acquisition loan for Outrigger hotels

% 18,577 9.9% Cost of sales of goods 129,526 62.7% 120,447 64.1% 9,079 7.5% Gross profit from sales(2) 51,088 28.3% 47,597 28.3% 3,492 7.3% Cost of rental and rendering of services 3,161 1.5% 2,663 1.4% 498